Report Update Feb 1, 2025

Nigeria - Tyre Cord Fabric of High Tenacity Yarn - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Tyre Cord Fabric Market 2025

Tyre Cord Fabric Market Size in Nigeria

In 2021, the Nigerien tyre cord fabric market decreased by -57.1% to $X, falling for the second consecutive year after five years of growth. In general, consumption continues to indicate a noticeable decline. Tyre cord fabric consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Tyre Cord Fabric Exports

Exports from Nigeria

In 2021, after four years of growth, there was significant decline in overseas shipments of tyre cord fabric of high tenacity yarn, when their volume decreased by -98.9% to X kg. Over the period under review, exports saw a deep slump. The pace of growth appeared the most rapid in 2017 when exports increased by 4,636% against the previous year. The exports peaked at X tons in 2020, and then declined rapidly in the following year.

In value terms, tyre cord fabric exports declined rapidly to $X in 2021. Overall, exports saw a precipitous decrease. The pace of growth was the most pronounced in 2017 with an increase of 4,837% against the previous year. The exports peaked at $X in 2020, and then contracted notably in the following year.

Exports by Country

Benin (X kg) was the main destination for tyre cord fabric exports from Nigeria, accounting for a 87% share of total exports. Moreover, tyre cord fabric exports to Benin exceeded the volume sent to the second major destination, Niger (X kg), sevenfold.

From 2012 to 2021, the average annual growth rate of volume to Benin amounted to -20.0%.

In value terms, Benin ($X) emerged as the key foreign market for tyre cord fabric of high tenacity yarn exports from Nigeria, comprising 78% of total exports. The second position in the ranking was held by Niger ($X), with a 22% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Benin stood at -22.3%.

Export Prices by Country

In 2021, the average tyre cord fabric export price amounted to $X per ton, increasing by 24% against the previous year. Overall, the export price, however, continues to indicate a mild contraction. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Niger ($X per ton), while the average price for exports to Benin totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Benin (-2.9%).

Tyre Cord Fabric Imports

Imports into Nigeria

In 2021, supplies from abroad of tyre cord fabric of high tenacity yarn decreased by -61.9% to X tons, falling for the second consecutive year after four years of growth. Over the period under review, imports recorded a pronounced slump. The most prominent rate of growth was recorded in 2018 with an increase of 1,535%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, tyre cord fabric imports declined remarkably to $X in 2021. In general, imports recorded a mild descent. The pace of growth appeared the most rapid in 2018 with an increase of 459%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of tyre cord fabric to Nigeria, accounting for a 61% share of total imports. Moreover, tyre cord fabric imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was taken by South Korea (X tons), with a 5.7% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+20.2% per year) and South Korea (+65.5% per year).

In value terms, China ($X) constituted the largest supplier of tyre cord fabric of high tenacity yarn to Nigeria, comprising 64% of total imports. The second position in the ranking was held by the United States ($X), with a 20% share of total imports. It was followed by India, with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+17.2% per year) and India (+42.8% per year).

Import Prices by Country

The average tyre cord fabric import price stood at $X per ton in 2021, growing by 63% against the previous year. Overall, the import price recorded a slight expansion. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was India ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for tyre cord fabric of high tenacity yarn in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, together accounting for 31% of global consumption. These countries were followed by Germany, Indonesia, Russia, Thailand, Mexico, Japan, Turkey, Brazil, Canada and South Korea, which together accounted for a further 33%.

What are the largest producers of tyre cord fabric of high tenacity yarn in the world?

China constituted the country with the largest volume of tyre cord fabric production, comprising approx. 32% of total volume. Moreover, tyre cord fabric production in China exceeded the figures recorded by the second-largest producer, Vietnam, fourfold. Germany ranked third in terms of total production with a 4.1% share.

What are the leading suppliers of tyre cord fabric of high tenacity yarn to Nigeria?

In value terms, China constituted the largest supplier of tyre cord fabric to Nigeria, comprising 88% of total imports. The second position in the ranking was occupied by the United States, with an 8% share of total imports.

What are the leading importers of tyre cord fabric of high tenacity yarn from Nigeria?

In value terms, Benin $291) remains the key foreign market for tyre cord fabric exports from Nigeria.

What is the average export price for tyre cord fabric of high tenacity yarn in Nigeria?

In 2021, the average tyre cord fabric export price amounted to $1,582 per ton, leveling off at the previous year.

What is the average import price for tyre cord fabric of high tenacity yarn in Nigeria?

In 2021, the average tyre cord fabric import price amounted to $794 per ton, falling by -8.4% against the previous year.

This report provides an in-depth analysis of the tyre cord fabric market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 13961500 - Tyre cord fabrics of high tenacity yarn, of nylon, other polyamides, polyesters or viscose rayon

Country coverage:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024